Proof of debts: creditors must prove claims by the fixed date or be excluded from distributions. The Liquidator in Tribunal winding up must, and the LLP Liquidator in voluntary winding up may, fix a day (not less than fourteen days from the notice under rule 138) by which creditors must prove their debts or claims and establish priority; failure to prove by that date may result in exclusion from the benefit of any distribution or from objecting to such distribution, subject to the Act and Tribunal directions.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Proof of debts: creditors must prove claims by the fixed date or be excluded from distributions.
The Liquidator in Tribunal winding up must, and the LLP Liquidator in voluntary winding up may, fix a day (not less than fourteen days from the notice under rule 138) by which creditors must prove their debts or claims and establish priority; failure to prove by that date may result in exclusion from the benefit of any distribution or from objecting to such distribution, subject to the Act and Tribunal directions.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.